CDA Auction Day 1: Record-Breaking Sales of PKR 11 Billion
The Capital Development Authority Auction has made headlines with its astonishing commercial plot CDA auction, raking in a whopping PKR 11 billion on the first day alone ¹. Five prime plots were sold, sparking intense investor interest and competitive bidding throughout the day. CDA Chairman Muhammad Ali Randhawa was thrilled with the turnout, attributing the success to investors’ confidence in CDA’s initiatives of CDA Auction.
Notable Sales:
- Plot No. 13-G in F-8 Markaz: Sold for PKR 1.22 billion
- Plot No. 16-D in F-8 Markaz: Sold for PKR 1.24 billion
- Plot No. 4-D in G-8 Markaz: Sold for PKR 598.3 million
- Plot No. 10 in Blue Area G-8: Sold for PKR 5.35 billion
- Plot No. I-B in the I-8 Centre: Sold for PKR 2.5 billion
The auction features an array of commercial plots in Islamabad’s well-developed areas, offering investors opportunities to develop motels, apartments, and Class III shopping centers. A committee led by CDA Member Finance Tahir Naeem and Director of Estate Management-II Tabinda Tariq oversees the process.
Auction Details:
- Date: October 2-3, 2024
- Location: Gandhara Citizen Club, F-9 Park, Islamabad
- Review Process: All bids will be thoroughly reviewed before presentation to the CDA Board for final approval
Incentives for Investors:
- Extended payment plan of two years
- Building plan approval upon 25% payment
- Possession after 75% payment
- 10% discount for full upfront payments
- Additional 5% discount for payments made in USDs
This impressive start to the auction is a testament to CDA’s efforts to promote investment and development in Islamabad. With more plots up for grabs, the city’s real estate landscape is poised for significant growth.
